Intra-EU migration increased before the crisis, especially into booming countries like Ireland and Spain. What happened during the crisis? Read more
Bruegel blog
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Where does the youth exodus come from?
7th June 2013
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In defense of OMT ahead of Karlsruhe
7th June 2013
Next week, the German constitutional court will debate and consider the legality of the European Stability Mechanism (ESM) and the ECB’s Outright Monetary Transaction programme (OMT). In last consequence, the court could force the German government to bring the ECB to the European Court of Justice or, even more dramatically, request Germany to leave the eurozone as the former constitutional court judge Udo di Fabio argued. Read more
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Mehr Augen sehen mehr
5th June 2013
Soll Deutschland einer gemeinsamen Bankenaufsicht auf EU-Ebene zustimmen, oder gibt Berlin dadurch zu viele Kompetenzen auf? Read more
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Chinese solar panels - economics or politics?
5th June 2013
Unless appropriately managed, the ongoing row on the proposed EU tariffs on solar panel imports from China has the potential to lead to a serious trade dispute between Brussels and Beijing. Read more
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Is the French government right on Amazon?
4th June 2013
Amazon is under pressure from the French government. The company has been accused of anti-competitive practices to monopolise the book market in France, arguably by pushing traditional book sellers out of business. France’s culture minister, Aurelie Filippetti, has threatened the introduction of a number of measures that would restrict Amazon’s ability to offer free shipping services or discounted book prices. Read more
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A press review ahead of the German Constitutional Court decision
4th June 2013
On 11 and 12 June, 2013 the German Federal Constitutional Court (FCC) will consider the legality and conformability of the European Stability Mechanism (ESM) and the ECB’s Outright Monetary Transaction programme (OMT) in particular. In this press review, we summarize the key issues. Read more
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Stellungnahme zur öffentlichen Anhörung im Bundestag Finanzausschuß: Verordnungsentwurf gemeinsame europäische Bankenaufsicht
1st June 2013
Written contribution to the public hearing of the Bundestag financial committee on June 3 2013 on the Single European Supervisor. Read more
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Is the OECD’s promise of better times ahead a credible one?
31st May 2013
This week the OECD released its latest biannual Economic Outlook. The world GDP growth forecast for 2013 has been revised down from 3.4 percent in June 2012 to 3.1 percent. The group of 34 OECD countries is also expected now to grow slower than projected 6 months ago—from 1.4 to 1.2 percent. But, the OECD projects that the second half of 2013 will see a modest revival of growth and the outlook for 2014 is decidedly better. Read more
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Blogs review: The economics of a regime shift
30th May 2013
What’s at stake:For several years already (see our previous reviews on price level and nominal GDP targeting), monetary economists and historians have called for a regime change in monetary policy that would break with the past and greatly affect inflation and growth expectations. After two decades of deflation, this change has come to Japan. As with the UK experiment with fiscal contractions, the early effects of the Japanese experiment have been followed with great interest on both side of the Atlantic where the policy approach has been more incremental. In this post, I complement the discussion of Abenomics with historical evidence from the Great Depression. Read more
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Germany must lead by example on fixing its banks
28th May 2013
Charles Kindleberger, the pre-eminent historian of financial crises, described a hegemon as a country willing to accept short-term costs for the sake of promoting international financial stability. The hegemon’s ability to absorb these costs allows it also to set the agenda – a responsible hegemon must lead by helping to establish internationally acceptable rules. Read more